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- 30 Mar - NH - Morning Newsletter (with survey at top and bottom)
30 Mar - NH - Morning Newsletter (with survey at top and bottom)
Morning Market Movers: Get Ahead with Today's Top Stocks
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Good Morning!On Thursday morning! The stock market is off to a promising start, with all stock futures pointing up. The Dow Jones Industrial Average futures surged by 0.36%, or 120 points, while the S&P 500 and Nasdaq-100 futures also increased by 0.37% and 0.27%, respectively.This positive momentum comes after a tumultuous week for the stock market. Fortunately, the three major indexes ended Wednesday on a high note, with the Nasdaq Composite leading the way with a whopping 1.8% jump. Not to be left behind, the S&P 500 and Dow also rallied and finished 1.4% and 1% higher, respectively. This is a welcome reversal from Tuesday's decline, where all three indexes finished lower.It seems that Big Tech stocks have been the main drivers of Wednesday's market gains. Amazon rose by 3%, while Meta and Netflix each gained more than 2%. Additionally, regional banks have rebounded after the Silicon Valley Bank's recent collapse, with the SPDR S&P Regional Banking ETF (KRE) adding around 1%.As the day progresses, investors will keep a keen eye on the latest economic data on weekly jobless claims and gross domestic product. Moreover, we can expect speeches from notable figures such as Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Barkin, and Minneapolis Fed President Neel Kashkari in the afternoon.
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Today Top Movers
SG Blocks Inc. (SGBX) stock soared 31.69% to $1.06 in the pre-market trading after reporting a 476% year over year increase in construction services revenue for the Q4 of 2022.
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) shares are trading up 25.89% at $0.4469 at the time of writing after announcing the start of production (SOP) of the all-new Ultimate Intelligent TechLuxury FF 91 Futurist Alliance at its FF ieFactory located in Hanford, California.
SenesTech Inc. (SNES) grew over 0.66% at $1.53 in pre-market trading today. TIME Magazine recently highlighted SenesTech and their innovative approach to managing worldwide rat infestations.
Sprinklr Inc. (CXM), a Software - Application company, rose about 13.97% at $12.4 in pre-market trading Thursday. The company declared Q4 and full year fiscal 2023 results.
Top 5 Gold Stocks to Consider Right Now
There's still plenty of upside ahead for gold. Sure, gold may have lost some of its shine. But don't count it out just yet.
"The macro drivers from aggressive rate hikes and a strong U.S. dollar have been keeping gold below $1,800 an ounce," according to analysts at RBC Capital Markets, as noted by Kitco.com. "But the heightened geopolitical tensions could still support gold into the year-end, which is why a price tag above $2,000 is still possible this fall."
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Top Upgrades & Downgrades
JP Morgan turned bullish on Philip Morris International Inc. (PM), upgrading the stock to Overweight and assigning a $116 price target, representing potential upside of 22.48% from Wednesday's close.
Fluence Energy Inc. (FLNC) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $29, suggesting 78.46% additional upside for the stock.
SunPower Corporation (SPWR) received an upgrade from analysts at Goldman Sachs. They changed their rating on SPWR to Neutral from Sell in a recently issued research note.
Earlier Thursday Evercore ISI Group reduced its rating on Atreca Inc. (BCEL) stock to In-Line from Outperform and assigned the price target to $1.5.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Nexa Resources S.A. (NEXA) has been changed to Underweight from Overweight and the new price target is set at $5.6.
Analysts at Morgan Stanley downgraded Southern Copper Corporation (SCCO)'s stock to Equal-Weight from Overweight Thursday.
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Latest Insider Activity
Natera Inc. (NTRA) CEO AND PRESIDENT Chapman Steven Leonard announced the sale of shares taking place on Mar 29 at $55.00 for some 2,571 shares. The total came to more than $0.14 million.
Tellurian Inc. (TELL) Executive Chairman SOUKI CHARIF sold on Mar 28 a total 442,678 shares at $1.15 on average. The insider’s sale generated proceeds of almost $0.51 million.
Blackstone Inc. (BX) 10% Owner Blackstone Holdings III L.P. declared the purchase of shares taking place on Mar 28 at $46.88 for some 22,346 shares. The transaction amount was around $1.05 million.
Inozyme Pharma Inc. (INZY) Director Hopfner Robert Lorne bought on Mar 28 a total 156,766 shares at $4.16 on average. The purchase cost the insider an estimated $652,335.
Rare Green-Metals Discovery: US$2 Stock Set to Deliver Gains
Smart investors are blowing away Wall Street's so-called "experts" on green-metals stocks. And with the clean-energy revolution in full-swing, the near-term gains could be absolutely life-changing. The timing is dead-on accurate with this US$2 stock securing a world-class green-metals resource designated as a Strategic Minerals Deposit at 5.7 Million ounces with drills turning now.
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Important Earnings
Top US earnings releases scheduled for today include Li-Cycle Holdings Corp. (NYSE:LICY). It will announce its Jan 2023 financial results. The company is expected to report earnings of -$0.17 per share from revenues of $9.57M in the three-month period.
Analysts expect Neogen Corporation (NASDAQ:NEOG) to report a net income (adjusted) of -$0.01 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2023 is predicted to come in at $218.86M.
EVgo Inc. (EVGO), due to announce earnings before the market opens today, is expected to report earnings of -$0.16 per share from revenues of $21.82M recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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